What are the best double candle patterns for cryptocurrency trading?

7 answers

• Dec 17, 2021 · 3 years ago
  Sure! One of the best double candle patterns for cryptocurrency trading is the Bullish Engulfing pattern. This pattern occurs when a small bearish candle is followed by a larger bullish candle that completely engulfs the previous candle. It is a strong indication of a trend reversal from bearish to bullish. To identify this pattern, look for a small red candle followed by a larger green candle. The green candle should completely cover the red candle, indicating a bullish trend reversal.
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• Dec 17, 2021 · 3 years ago
  There are several double candle patterns that can be useful for cryptocurrency trading. One of them is the Bearish Harami pattern. This pattern occurs when a large bullish candle is followed by a smaller bearish candle that is completely engulfed by the previous candle. It suggests a potential trend reversal from bullish to bearish. To identify this pattern, look for a large green candle followed by a smaller red candle that is completely engulfed by the green candle.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends paying attention to the Evening Star pattern. This pattern consists of three candles: a large bullish candle, followed by a small candle with a small body, and finally a large bearish candle that closes below the midpoint of the first candle. It is a strong indication of a trend reversal from bullish to bearish. To identify this pattern, look for a large green candle, followed by a small red or green candle, and finally a large red candle that closes below the midpoint of the first candle.
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• Dec 17, 2021 · 3 years ago
  Another double candle pattern that is worth considering is the Bullish Harami Cross pattern. This pattern occurs when a large bearish candle is followed by a small doji candle that is completely engulfed by the previous candle. It suggests a potential trend reversal from bearish to bullish. To identify this pattern, look for a large red candle followed by a small doji candle that is completely engulfed by the red candle.
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• Dec 17, 2021 · 3 years ago
  In addition to the mentioned patterns, the Piercing Line pattern is also popular in cryptocurrency trading. This pattern occurs when a large bearish candle is followed by a bullish candle that opens below the low of the previous candle and closes above the midpoint of the previous candle. It suggests a potential trend reversal from bearish to bullish. To identify this pattern, look for a large red candle followed by a green candle that opens below the low of the red candle and closes above its midpoint.
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• Dec 17, 2021 · 3 years ago
  If you are looking for a pattern that indicates a trend continuation, the Bullish Harami pattern is worth considering. This pattern occurs when a large bearish candle is followed by a small bullish candle that is completely engulfed by the previous candle. It suggests that the previous bearish trend is likely to continue. To identify this pattern, look for a large red candle followed by a smaller green candle that is completely engulfed by the red candle.
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• Dec 17, 2021 · 3 years ago
  The Morning Star pattern is another double candle pattern that can indicate a trend continuation. This pattern consists of three candles: a large bearish candle, followed by a small candle with a small body, and finally a large bullish candle that closes above the midpoint of the first candle. It suggests that the previous bullish trend is likely to continue. To identify this pattern, look for a large red candle, followed by a small red or green candle, and finally a large green candle that closes above the midpoint of the first candle.
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